Why Do I Want To Be In The Mortgage Industry

Why Do I Want To Be In The Mortgage Industry as a MLO

Gustan Cho Associates are mortgage brokers licensed in 48 states

This article will cover the frequently asked question from loan officer recruits why do I want to be in the mortgage industry. The real estate industry, like any industry, has its ups and downs…ebbs and flows per see. We are experiencing a booming great real estate market with high mortgage rates. Dale Elenteny of Gustan Cho Associates made the following statement about the frequently asked question of why do I want to be in the mortgage industry:

The real estate market has cooled off since last year’s skyrocketing demand for homes with skyrocketing rates. However, home prices are still on the rise, but the inventory of homes has increased due to the high mortgage rates. Many loan officers are hurting due to high rates. However, mortgage rates are expected to tank hard. When it does, demand for refinance will skyrocket like never before. Now is the time to become a licensed loan officer in the mortgage industry.

Despite high mortgage rates, the demand for real estate is high. This demand is nationwide. Property values in areas of Florida and California are appreciating double digits yearly. This holds true even though they meet the FHA mortgage lending guidelines and criteria for an FHA-insured mortgage loan. Sadly, when the market is as “hot” as it is, this can cause a potential buyer to lose out on a home they love. This article will discuss and cover why I want to be a loan officer in the mortgage industry.


Why Do I Want To Be In The Mortgage Industry as a Loan Officer

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HUD, the parent of FHA, insures owner-occupied residential mortgage loans that meet certain criteria, so why don’t mortgage lenders follow those rules? Why won’t some banks, if HUD guidelines, allow applicants to have a 580 credit score? Here is what Dale Elenteny of Gustan Cho Associates said about the rewards of serving underserved mortgage borrowers with less-than-perfect credit:

It can be very frustrating for those borrowers because they don’t understand the overlays that some banks may have. This is partly why some banks can do certain loans and others simply cannot. These borrowers are underserved, and it ignites a fire within me. The good news is that there are lenders who will serve the underserved.

I wanted to be a part of that network that helps those borrowers in these situations. I want to be in a position to lift people and help guide them along the way so that they can see some of their dreams come true. After all, there is no greater joy than being a part of something that helps someone else. So, why do I want to be in the mortgage industry? Simple, I want to help those borrowers that the other banks would not.

Why Do I Want To be In The Mortgage Industry as a MLO

Why Choose Us at Gustan Cho Associates Mortgage Group

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Here are the reasons why I chose to work with Gustan Cho Associates:

  • Gustan Cho NMLS 873293 has a national reputation for being an expert real estate investor and mortgage professional
  • 80% of Gustan Cho Associates borrowers are folks who either were denied by other lenders or are going through a mortgage process with their current lender with a lot of stress.
  • Gustan Cho takes on these borrowers and closes them because Gustan Cho Associates is a national lender licensed in multiple states.
  • Gustan Cho Associates has no overlays on government loans and Conventional Mortgages.
  • Gustan Cho Associates closes loans in 21 days
  • No Overlays On FHA Loans
  • No Lender Overlays On VA Loans
  • No Overlays On USDA Loans
  • No Overlays On All Conventional loans
  • NON-QM Loans
  • Stated Income And Portfolio Loans With No Waiting Period After Bankruptcy Or Foreclosure
  • Bank Statement Mortgage Loan Programs

The Gustan Cho Rapid Response Group, headed by Michael Gracz and Alex Carlucci.

Career Opportunities With Gustan Cho Associates

Michael Gracz, the National Sales Manager at Gustan Cho Associates, is aggressively recruiting loan officers. Here are the types of individuals Mike Gracz is seeking to join our close-knit national group of Gustan Cho Associates:

  • One year experience as a full-time loan originator
  • Remote Loan Officer Career Opportunities
  • Qualified Branch Provided Leads
  • Full Benefits which include medical, dental, vision insurance
  • 401k Retirement
  • Advancement Opportunities as Team Leaders and Managers
  • Net Branch Opportunities

About The Author of Why Do I Want To Be In The Mortgage Industry

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Alex Carlucci is a senior loan officer at Gustan Cho Associates and the author of why do I want to be in the mortgage industry. Alex is also a contributing writer for Gustan Cho Associates Mortgage And Real Estate Information Center

There is more demand than properties in the market. Property listings are going almost as quickly as they are coming on the market in many areas, creating excitement for homeowners. One particular area that is unfortunate is for mortgage loan borrowers who apply for a mortgage loan and are declining.

Alex has extensive experience in accounting and auditing and is also a licensed mortgage loan originator. Alex Carlucci’s passion for helping others make the dream of homeownership a reality motivated him to get her mortgage loan originator’s license. If you have any questions about this topic on why do I want to be in the mortgage industry, please join our forum at GCA Mortgage Forum powered by Gustan Cho Associates. Stay tuned for more informative blogs and articles by Alexander Carlucci of Gustan Cho Associates.

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  1. Good morning. My name is Laurie and I’m just reaching out to you to find out about becoming a loan officer. I live in PA my credit is a work in progress. I have been making every effort to repair it. My score is about a 650. My sister is a loan officer from home and thought this would be a great fit for me. I did work in mortgages about 20 years ago so I would have to brush up on a lot I’m sure. Just wanted to get your feedback since you seem to have a lot of knowledge on this on where to start, would I even be considered before I waste my time studying for the exam. Also looks like a bachelor degree is preferred? I have a lot of sales and customer service experience as well as working from home for myself. I only attended a technical program after high school for a medical assistant program I have not attended college.
    I appreciate your time and any information you can provide.

    1. Laurie, bachelor’s degree is not required. What type of bad credit do you have? Credit scores don’t matter. I do recommend David Reinholtz at http://www.loanofficerschool.com. Call him from the number listed on his website and tell him I referred you and he will get you a discount on the 20 hour NMLS course. He has the best practice exams for you to pass the 125 question NMLS federal exam on the first try.

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